I got a direct deposit from "TAX PRODUCTS PE3 SBTPG LLC", but according to turbo tax, I haven't received my tax return yet. what was this deposit for? That is your federal refund minus the fees. Turbo Tax doesn't know when you get the refund or when the IRS sent it. They just gave you an estimated date.1 jun 2019
Why did I get a deposit from Santa Barbara Tax Products Group?
Santa Barbara Tax Products Group is used to process your refund when you elect to have your tax preparation fees deducted from your refund. ... Once they process your refund and we receive our fees, the remainder will be deposited into the account you provided.
What is tax products pr2 deposit?
If you received a deposit of your Federal refund from "Tax Products", aka SBTPG, PE2, etc., that implies you had TurboTax fees that you chose to pay out of your Federal refund. That intermediary company receives the refund from the IRS, subtracts the fees, then sends the rest to your bank account (or card.)3 jun 2019
What is deposit tax refund?
Direct Deposit is a free service for electronically transferring your tax refund from the Internal Revenue Service into your financial account. ... Direct Deposit is easy, safe and secure. Whether you file electronically or on paper, Direct Deposit gives you access to your refund faster than a paper check.
What does XXTAXEIP2 mean?
What does “XXTAXEIP2” mean? “XX” – This is the U.S. Treasury's encoding which designates the payment as exempt from garnishment. “TAX” – This is additional designation that the payment is originated by the IRS, and under the COVID relief package is a tax rebate.24 sept 2021
What is a 310 deposit?
An Economic Impact Payment (known as EIP or stimulus payment) – this will show as “IRS TREAS 310” and have a code of “TAXEIP3”. An advance payment of the Child Tax Credit – this will show as being from the IRS and will show as “IRS TREAS 310” with a description of “CHILDCTC”.18 ago 2021
Why did I just get a deposit from the IRS?
Some Americans have been surprised by a deposit from the Internal Revenue Service in their bank accounts. They payment was not a fourth stimulus check, but rather a refund for taxpayers who overpaid taxes on unemployment compensation in 2020.19 ago 2021
What is tax products PE1 on bank statement?
A deposit from Tax Products PE1 is most often a Federal refund for those people who chose the option to pay their TurboTax fees out of their Federal refund. ... The description for the deposit often says something like Tax Products PE1 or something similar. A state refund comes directly from the state tax agency.27 feb 2021
What does tax products PE3 mean?
Since you chose this thread about "Tax Products PE3 SBTPG", I presume the $507 you received has that wording as the deposit descriptor. If so, that means you chose to pay your TurboTax fees out of your Federal refund. That's handled by a third-party company SBTPG.27 mar 2021
What do tax products mean?
It's always the exact amount on my return. What is this from? You apparently chose the option to have your TurboTax fees paid from your federal refund. Tax Products PE4 SBTPG is the bank that processes your refund that it receives from the IRS to deduct your fees and then send it on to your bank.1 jun 2019
What is tax products PE3 stimulus?
TAX PRODUCTS PE3 SBTPG LLC 200414 JA2HUOQ1U. Basically, they sent temporary bank accounts, IRS sends them the money, they deduct the funds then send it to you.
Why did I get a deposit from tax products?
what was this deposit for? The refund is from Santa Barbara Tax Products Group. When you file your return and pay for TurboTax from your refund, then the refund money is sent to the the SBTPG. They deduct the money that you owe for TurboTax plus a fee to pay with refund.27 mar 2021
Why do I have a deposit from tax products PE1?
A deposit from Tax Products PE1 is most often a Federal refund for those people who chose the option to pay their TurboTax fees out of their Federal refund. That's handled by an intermediary company called SBTPG (aka Tax Products Group.) ... Then SBTPG's bank sends the rest of the Federal refund to your bank account.27 feb 2021